# Elos Medtech acquires Klingel Medical Group for EUR 370M

Elos Medtech AB entered into an agreement to acquire Klingel Holding GmbH (Klingel Medical Group) from IK Partners and management for an enterprise value of EUR 370 million. The acquisition will add eight production facilities in Germany and Switzerland and approximately 900 employees.

- Type: Acquisition
- Announced: 2023-07-28
- Where: Germany and Switzerland, Germany
- Value: $406.0M (370.0M EUR)
- Jobs: 900
- Status: announced
- Products: medical device contract development and manufacturing
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Elos Medtech](https://endata.com/companies/42900.md) (acquirer)
- [IK Partners](https://endata.com/companies/60133.md) (partner)
- [Klingel Medical Group](https://endata.com/companies/71697.md) (target)
- [Klingel Holding GmbH](https://endata.com/companies/71767.md) (target)

## Sources

- [news.cision.com](https://news.cision.com/elos-medtech-ab/r/elos-medtech-acquires-klingel-medical-through-a-guaranteed-rights-issue,c3809692), 2023-07-28: "The acquisition marks a significant milestone for both companies and demonstrates their continued commitment to key customers and markets."
- [odtmag.com](https://www.odtmag.com/breaking-news/elos-medtech-expands-global-footprint-with-acquisition-of-klingel/), 2023-08-01: "Together, they will form a market-leading Medtech CDMO, with strategically located sites across the U.S., Europe, and Asia."
- [nordiclifescience.org](https://nordiclifescience.org/elos-medtech-acquires-klingel-medical/), 2023-08-07: "We firmly believe that this acquisition strengthens our position in the CDMO landscape."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.